Does anyone know if the new Corporate Transparency Act reporting requirement applies to an LLC that was formed years ago for the purposes of ownership of NFA items? I’ve read the requirements posted by the government and having to file by January 25, 2024 or face criminal and civil penalties. It is very confusing on determining if an LLC that does not generate income but has assets would be exempt. I’ve searched forums on NFA items and this subject has not been raised so I suspect no one - like me - was aware of this.
Any lawyers able to weigh in?